Bon Jovi, Dave Matthews chirsten Churchill Downs' music festival

Churchill Downs, the home of the Kentucky Derby, will become a stomping ground for some of the country's best known musicians next summer.

AP PhotoBon Jovi

The three-day music festival will feature more than 65 band, including Bon Jovi, Kenny Chesney, and the Dave Matthews Band.

Officials with Churchill Downs Inc., the parent company of the racetrack, said Monday that the festival is called "HullabaLOU" and is set for next July 23-25. It will feature classic rock, county, adult contemporary and bluegrass musicians on five stages throughout the sprawling 147-acre facility. It is envisioned to be an annual event.

Churchill has hosted rock-n-roll royalty at the historic track in recent years with performances by the Rolling Stones and The Police.

The track has been aggressively looking for alternative source of revenue to augment its income from horse racing.